Chinese crude imports in March were virtually unchanged from February's all time high (and same as January), and while the bpd number was slightly lower due to fewer days in the month at 5.50, one thing is clear:

every ounce of oil that the rest of the world does not want, China will rapaciously import and stockpile.

Good luck to Saudi Arabia with perpetuating the lie that it can boost its production by 2.5 million bpd to offset Iran.